FREQUENTLY ASKED QUESTIONS

Borrower

1. What condition should my house be in for the appraisal inspection?
We can appraise houses in any condition, but keep in mind that any
needed repairs will adversely affect the current "as-is" market value. Don't
worry about having your house completely clean and neat, as we are focusing
on the house and the site, not on your personal belongings.

2. How long does an appraisal take?
Answer:
The inspection takes about 30 minutes for one story houses. After
that the research and analysis of comparable sales typically takes 2 days.

3. What does the appraisal inspection consist of?
The appraiser measures the exterior walls of the house and
outbuildings, takes photographs of various exterior views. Then, the
appraiser views each interior room and photographs some or all of them. Some
additional inspections and functional checks are done for FHA loans.

4. Does real estate always increase in value?In central Alabama real estate has appreciated from 3% to 7% per
year. Recently the appreciation rate has slowed and possibly stabilized, but
we have not seen a decrease in values.

5. Should I expect my property to be appraised for more than the last
time it was appraised?Your last appraisal may or may not have been accurate. While most
appraisers are honest and competent we have observed questionable practices
by some appraisers who consistently overstate values. This unfortunately
raises the expectations of homeowners beyond what the market would indicate.
If you were unfortunate in a previous appraisal that overstated the value,
then it is possible that our appraisal could indicate a lower value than the
prior appraisal.

Also, especially for unusual properties or in small markets, there may be so
few comparable sales available that it becomes difficult to discern what the
real market value is. Honest, competent appraisers could arrive at widely
varying opinions of value. In that case, it is possible that a prior
appraisal could have been on the high side of the range of legitimate values
and the next appraisal could be in the middle or on the low side of the
range. This could result in the later appraisal coming in lower than the
earlier appraisal, even though the market is stable or increasing.

6. Can I get a copy of the appraisal?Yes. By law the borrower is entitled to receive a copy of the appraisal, if requested from the lender in writing within 90 days. The copy
must be obtained from the lender and not from the appraiser. The lender may
require the borrower to reimburse the lender for the cost of the appraisal.

7. What if don't agree with the appraised value?
We base the appraised value on recent market activity (mainly sales
and current listings). The most productive way of having an appraisal
reconsidered is to provide comparable sales which we may not have known
about.

Lender

1. What payment methods do you accept?
We accept business checks, personal checks, VISA, MasterCard, cash,
and direct deposit.

3. What is your turn time?
Depending on our current workload, we typically complete appraisals
in 2 to 4 business days from the order date. In our busiest times we may
quote as long as one week but we will still strive to complete the
assignments as quickly as possible. In some cases we can expedite service to
1 to 2 business days for a rush fee.

4. Do you do comp checks?We do in a very limited sense. For properties that are located in
areas with plenty of nearby similar sales we will check comps as time
permits. For most properties in our coverage area we will not be able to do
comp checks.

5. What good is an appraisal that doesn't enable the loan to be closed?For most people their home is their largest investment. Knowing the
market value of that investment is helpful to any home owner who wants to
manage their finances and plan wisely for their financial future.

6. Do you have E&O insurance?Yes.

7. How many appraisers do you have?We have four certified appraisers and one trainee appraiser.